A Rant and a Question

Craig Ferguson had a delightful Rant in last night’s monologue, which my buddy Ken B. was good enough to bring to my attention. The YouTube video is here:
Craig Ferguson Monologue – 9/24/2008

What I’ve been wondering about is this: We keep hearing from our “leaders” that we cannot allow to let these institutions — AIG, Fanny Mae, Freddie Mac, Bear Stearns… — we cannot allow them to fail because they’re too large. Well then, why haven’t any of these leaders proposed new legislation to prevent any more such institutions from ever getting that large again? Why didn’t any of these leaders stand up when all of these mergers were happening over the past 25 years and say, “Wait a minute, if we let these guys merge then sometime down the road they’ll be able to hold us hostage for billions of dollars.”

Well I guess one of our leaders would have to have been in a position of power for the past 25 years in order to do that, maybe head of the Senate Commerce Committee or something like that. I guess one of our leaders would have to have the heart of a reformer… Uh, Mr. McCain, why are you trying to edge off the stage right now?

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